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The global automatic transmission market size is projected to reach USD 168.7 billion by 2032, and register a revenue CAGR of 4.2% during the forecast period.

NEW YORK, US, UNITED STATE, July 10, 2023/EINPresswire.com/ -- The global automatic transmissions market, valued at USD 108.9 billion in 2022, is predicted to reach USD 168.7 billion by 2032, with a projected revenue compound annual growth rate (CAGR) of 4.2% during the forecast period. Key factors driving the growth of market revenue include the increasing demand for technologically advanced and fuel-efficient vehicles, rising disposable income, and global urbanization. Additionally, the emerging trends of autonomous driving systems and electric vehicles are expected to contribute to the market's revenue growth.

The popularity of automatic transmissions is on the rise due to their user-friendly nature, smooth gear shifts, and improved fuel efficiency. Developing countries like India, China, and Brazil are witnessing a growing adoption of automatic transmissions in both passenger cars and commercial vehicles. The desire for driving comfort and convenience, particularly in areas with heavy traffic, is driving the popularity of automatic transmission vehicles.

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Furthermore, the market for automatic transmissions is expected to experience revenue growth due to the increasing trend of electric vehicles. The demand for sustainable and eco-friendly transportation options, especially in urban areas, is fueling the adoption of electric vehicles. Manufacturers are investing significantly in developing more efficient and environmentally friendly automatic transmission systems for electric vehicles, which is anticipated to drive market revenue growth in the coming years.

The growing demand for automatic transmissions is also influenced by the popularity of autonomous driving systems. Autonomous driving systems have the potential to reduce accidents, enhance fuel efficiency, and improve the overall driving experience. To ensure compatibility with autonomous driving systems, manufacturers are heavily investing in the development of advanced automatic transmission systems. This investment is expected to drive revenue growth in the market in the foreseeable future.

Government regulations mandating the use of fuel-efficient and environmentally friendly vehicles are another factor expected to contribute to market revenue growth. Governments worldwide are implementing stringent requirements to reduce greenhouse gas emissions and improve fuel economy. As a result, manufacturers are making significant investments in the development of automatic transmission systems that are more environmentally responsible. This trend is expected to drive revenue growth in the market in the coming years.

However, the market may face challenges in terms of high costs, technological complexity, and a shortage of skilled workers, which could impede revenue growth. The market is highly competitive, with both established companies and new entrants vying for market share. Manufacturers are thus investing heavily in research and development to create improved automatic transmission systems that offer better performance, fuel efficiency, and reliability.

The report further explores the key business players along with their in-depth profiling, product catalogue, and strategic business decisions.

The key players studied in the report are:

General Motors Company
Aisin Seiki Co., Ltd.
BorgWarner Inc.
Eaton Corporation Plc
Ford Motor Company
Magna International Inc.
JATCO Ltd.
Hyundai Motor Company
Valeo SA
ZF Friedrichshafen AG
Continental AG

Major geographical regions analysed in the report include North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise and region-wise analysis to provide better understanding of the geographical expansion of the market and the current trends, demand and supply, customer trends, production and consumption trends, and import/export of each country in the region.

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Further, the report segments the Automatic Transmission market on the basis of products, applications, and end-use, among other segments and offers details about the segment expected to account for largest revenue share or rapid revenue CAGR and the key trends and factors influencing the revenue growth.

By Type Outlook:

Manual Mode
Automatic Mode
Dual-Clutch Transmission
Continuously Variable Transmission
Others

By Vehicle Type Outlook:

Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles

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